Debt Constraint, Free Cash Flow and Cost Stickiness

Taking the 2009-2015 manufacturing listed company as a sample, this paper empirically examines the effect of free cash flow on cost stickiness and the effect of free cash flow on cost stickiness under debt constraint. The results show that there is a cost stickiness in Chinese manufacturing listed companies, free cash flow promotes cost stickiness, and the influence of free cash flow on cost stickiness is weakened under the constraint of debt.